Twin Cities Development’s Community and Economic Development Director says the pending closure of Monument Mall’s largest anchor store can be “emotional and threatening” but it emphasizes the need to diversify and strengthen the area’s economy.
Keith Ellis says the changing retail landscape and the impact of online shopping is a major factor in Herberger’s closing, but growing the local economy remains the best way to keep such things from happening.
Ellis said, “We’ve got to get industry and jobs recruited to our area, and we are working on it, but it’s just a slow, slow process. But this (Herberger’s closing) puts added pressure on us to do that.”
Ellis says the slump in the ag economy has been difficult and there are too many large retail spaces that are empty. But he says TCD is working on “generating quality leads” that will lead to recruitment of new business.